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Fri 11 Jul 2014 01:42 AM

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Petrofac says $700m oil deal won in Kuwait

Oil and gas services provider secures three-year contract to build oil gathering centre in Gulf state

Petrofac says $700m oil deal won in Kuwait
(Photo for illustrative purposes only)

Petrofac, the international oil and gas services provider, has announced that it has won a $700 million contract from Kuwait Oil Company.

The project will be completed over a period of approximately three years and the scope of work includes the engineering, procurement, construction, pre-commissioning and commissioning of KOC's GC29 gathering centre.

GC29 is one of three gathering centres being constructed to support KOC’s plans to increase and maintain oil production over the next five years.

Each of the three gathering centres will be capable of producing around 100,000 barrels of oil per day together with associated water and gas.

Subramanian Sarma, managing director of Petrofac's Onshore Engineering & Construction business, said: “We have a long track record with KOC which extends over the last 14 years and the award of GC29 represents our tenth project in the country to date.

"With ongoing projects for both KOC and Kuwait National Petroleum Company and good visibility of the future pipeline, Kuwait is, and will continue to be, of strategic importance to Petrofac’s ambitions in the Middle East market.”

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